The Entry to Record the Payment of Taxes Withheld from Employees

question 112

Multiple Choice

The entry to record the payment of taxes withheld from employees and FICA taxes would be to:

• A) credit Cash; debit FICA-OASDI Payable, FICA-Medicare Payable, and Federal Income Tax Payable.
• B) debit Cash; credit FICA-OASDI Payable, FICA-Medicare Payable, and Federal Income Tax Payable.
• C) credit Cash; credit FICA-OASDI Payable, FICA-Medicare Payable, and Federal Income Tax Payable.
• D) None of these answers is correct.

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Definitions:

Buckley Amendment

Also known as the Family Educational Rights and Privacy Act (FERPA), a federal law that protects the privacy of student education records.

Lax Confidentiality

A condition where confidentiality measures are insufficiently stringent, potentially allowing unauthorized access to sensitive information.

Parent Teachers Association

An organization that brings together parents and teachers to collaborate on school activities, student well-being, and educational improvements.

State Board

An administrative body within a government tasked with regulating and overseeing a specified professional field or area of activity.